Telecom News

MUMBAI: Telecom equipment maker Ericsson petitioned the National Company Law Tribunal (NCLT) seeking the start of bankruptcy proceedings against Reliance Communications (RCom) and two of its subsidiaries over total unpaid dues of Rs 1,150 crore. The two subsidiaries are Reliance Infratel and Reliance Telecom.

The offer provides Vodafone customers a great opportunity to purchase a new Lava feature phone. Upon purchasing a Lava phone, Vodafone customers can avail cashback worth Rs 50 for 18 months on minimum recharge of Rs 100 in a calendar month.

India’s telecom industry has seen intense competition, fuelled by the entry of Mukesh Ambani-backed Reliance Jio Infocomm Ltd. last year. Incumbent operators rushed to cut tariffs as Jio offered free services for the first six months, and then offered cut-rate data services. It also offered voice calls for free. The price wars left operators struggling to repay debt even as Reserve Bank of India urged banks to set aside higher provisions to deal with bad loans in the telecom sector.